19.10.2022

Solid third quarter sales for Haulotte

French aerial lift manufacturer Haulotte has reported a strong third quarter in terms of revenues but has not published its full results.

Total revenues for the nine months to the end of September were €429.1 million, up 21 percent on the same period last year. The numbers were made up as follows:
New machine sales of €366 million, an increase of 21 percent, while
Service revenues improved 16 percent to €46.8 million and
Rental revenues jumped 33 percent to €16.3 million.

European sales growth was 10 percent in spite of the ending of sales to Russia.
Asia-Pacific posted a strong pick up in the third quarter with sales up 43 percent driven by Australia.
North American sales were nine percent higher, driven once again by the Bil-Jax scaffold business which increased 27 percent, while aerial lifts sales improved two percent, in spite of a strong backlog.
South American sales increased by 21 percent driven by the activity in Brazil.

Third quarter revenues were €140 million, up 17 percent on last year.

The company said: “The global aerial work platforms market remained dynamic in the vast majority of areas since the beginning of the year, despite a macro-economic environment that shows sign of slowing down. In that context, still marked by persistent supply difficulties for certain components that penalised deliveries and an inflationary environment, reinforced by energy crisis in Europe,

2022 Outlook:
The statement added: “In the context of persistent supply difficulties for certain components, driven by a historical order book that is still increasing, Haulotte expects to post annua; sales growth close to 20 percent . Given the many uncertainties that remain, reinforced by the energy crisis that is getting more significant since the summer, Haulotte is still not in a position to confirm, at this stage, its current operating margin objectives for 2022, but does not expect a significant improvement in the second semester versus the first semester.”

Vertikal Comment

In terms of sales this is very encouraging, and does suggest that supply chain issues might just have eased slightly? Whether the business as a whole has performed well in these circumstances, is uncertain and we will not learn more until the full year accounts are published next year.